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Technology Stocks : DRKOOP.Com,Inc - (Nasdaq - KOOP)
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To: Mohan Marette who wrote ()6/8/1999 1:00:00 PM
From: Tae Spam Kim  Read Replies (1) of 595
 
Dr. Koop IPO Surging - 12:49 PM EST - TK
Dr. Koop (KOOP) in its first day of trading is already up 50%. This health website founded by the former Surgeon General, Dr. C. Everett Koop, is benefiting from the Healtheon/WebMD merger.

Former U.S. Surgeon General C. Everett Koop's online network DrKoop.com (Nasdaq:KOOP - news) jumped 50 percent on its first day of trading Tuesday.The stock was up 4-1/4 at 13-1/4 in late morning. DrKoop.com priced an initial public offering of 9.375 million shares at $9 apiece Tuesday. David Menlow at the IPO Financial Network in Millburn, N.J. said earlier that the Web healthcare network would do well because its well-known founder ''means instant credibility.'' Menlow said he also believed in the company's success because DrKoop.com is filling a void in the online IPO healthcare information sector, after popular medical online network Healtheon Corp. (Nasdaq:HLTH - news) merged with WebMD, a company that had filed for an IPO earlier this year. ''There is a void in this sector since Healtheon took over WebMD before it could go public,'' Menlow said earlier. DrKoop.com, which offers eight interactive communities dispensing information on topics such as addiction and children's health, has several business pacts, including a Israeli Internet software maker BackWeb Technologies Ltd. (Nasdaq:BWEB - news) also brought its shares to market and soared 82 percent on its first day of trading. - Reuters

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